Medical Retail Client Portfolio Growth and Site Selection in Atlanta
Introduction
A retail healthcare client partnered with Vestian for site selection and portfolio growth strategies within the Atlanta metro market. The client sought both medical and retail spaces that met specific parameters, aiming to optimize their geographical footprint in the area.
Challenge
The client needed to develop a strategic growth plan in the Atlanta metro area, taking into account both current and future demographics. They required a solution that would support a 1-and-3 Flagship model, centered on the highest concentration of their target demographic, while ensuring optimal geographical coverage.
Solution
We developed a strategic approach that began with identifying "Flagship" locations, followed by "Supporting Hub" and "Spoke" locations for optimal geographic coverage. We proposed a 1-and-3 Flagship model, prioritizing areas with strong current and future target demographics. Our team evaluated existing real estate assets for potential repurposing, carefully balancing speed to market against new development costs. Using advanced analytics tools and local market intelligence, we identified 20 potential sites, ultimately shortlisting eight for tours. We then negotiated optimal terms for three final sites, securing a 5-year lease with above-market tenant improvements and abatement allowance. The result was a secured location at a net effective rate 35% below market value, maximizing the client's investment and ensuring a successful real estate strategy.
